Last week, we talked about what is data-driven marketing, which you can find HERE, and I hope you took a moment to think about the questions I suggested you answer to get to know your customers better and get a clearer picture of your marketing objectives. The way to implement your best marketing ideas ever is to gather relevant data and knowledge, create your plan, and put it into play.
And we’ll tell you how to do exactly that in this step-by-step guide.
In the previous article, we discussed the following two steps:
- Define the metric that matters to your campaign/objective and KPIs.
- Identify your marketing opportunities
If you took some time to sit down and map out these two steps: well done! Let’s get that data-driven approach implemented by following these next steps.
3. Select the appropriate marketing campaigns
After you’ve defined the outcomes of step one and two, you can select the appropriate marketing campaigns. All marketing campaigns, more or less, fall into three categories:
- Content: Email Marketing, Search Engine Optimization, Partnerships, Public Relations, Events, Video
- Paid: Search Engine Advertising, Display Advertising, Remarketing, Influencer Marketing, Offline Advertising (billboards, newspapers, flyers etc.)
- Viral: Word of Mouth, Referral programs.
In order to select the right marketing campaign, I advise you to construct a hypothesis in a similar formula as this:
Filling in the blanks will translate it into: “If my August Fall Marketing Campaign is successful, then we will get 30.000 unique visitors to our e-commerce website and generate 50% more revenue due to my direct email campaign offering 30% off of all products to people subscribed to my newsletter that never made a purchase/never converted on my website before.”
The great thing about creating a hypothesis is that you pin down your expectations, which allows you to analyze your results and learn from them, whether they were positive or negative.
4. Prioritize Your Marketing Campaigns
Once you’ve chosen the types of campaigns you want to run and created your hypotheses, you will have to start prioritizing your campaigns by grading them on the following two points:
Prioritizing your campaigns based on how well they’re impacting your business and how much effort you’re putting into creating and tracking them will help you show you if what you’re working on matters and makes sense.
5. Implement Your Best Marketing Ideas Ever
Now that you’ve come up with your marketing campaign ideas and hypotheses, it is time to execute. Now’s the time to start creating real value for your customers and to get creative. Follow these next steps to properly execute your marketing campaigns:
- Define the marketing campaigns metrics.
- Research similar marketing campaigns to yours. This allows you to understand and apply best practices and understand new trends.
- Create your marketing campaign and start running it, but learn and adjust along the way. Does your FB marketing campaign contain 4 different ads, of which 1 is performing better over the other 3? Allocate more budget to the best performing ad in order maximize ROI and results.
6. Analyze Your Marketing Campaigns and Report Your Findings
During and after you’ve run your marketing campaigns, you need to analyze your metrics. Depending on the types of campaigns you’ve run and the metrics you’ve set, it’s time to open up your analytics dashboards. For Facebook Campaigns you can use Facebook Pixel, Active Campaigns or even Google Analytics to track and measure your campaigns. Learn how to track your active campaigns within Google Analytics here. In the event that you’ve run an AdWords campaign, you can use the AdWords dashboard.
7. Write Your Findings Down
The last step is the easiest step of all: Simply write down what worked and what didn’t. Did you create a Facebook Campaign with Video Content as well as Image content, and did your Video ad score better? Write it down, and use your results to optimize your next campaign.
But don’t get lazy. Just because your video worked this time, doesn’t mean that video content will work forever: Fortunately – or unfortunately– marketing is constantly evolving and so are we, especially when it involves a fast-paced industry like Tech. You have to stay up to date, continue learning about your customers, potential customers, about your competitors, and about the customers of your competitors in order to be the strongest in your game.
I would love to read any suggestions or additions to this data-driven marketing approach. Do you have specific steps to make your approach work for you?